Capesize (Atlantic and Pacific)
Market remained stucked and slow at around $7 for the key route W. Australia/China while charterers were trying to push rates lower for S. African cargoes. Saldanha Bay/Qingdao for H2 of Feb fixed just below $13. In Atlantic round was fixed at the low-$10,000 for a nice vessel and good delivery while Fronthaul from Brazil was still flat at about $18. Finally the period market reported a modern vessel fixed for 12/18 months for a prompt delivery at $11,000.
Panamax (Atlantic and Pacific)
In Atlantic, the grain business in East Coast South America ceased due to congestions in the main Brazil grain loading ports The Fronthaul trip from Brazil to FarEast was agreed at about $13,750 daily +375,000 ballast bonus by the end of last week and TransAtlantic round fell to about $5,000 daily again. In Pacific, there were an increasing number of Indonesian cargoes in the market while the cargoes from NoPac and Australia were limited. The Indonesia to S. China trip was evaluated at $5,500 daily plus $75,000 bb for LME and the trip via NoPac to FarEast was concluded at $6,000 daily plus $300,000 bb level. There were not many short period takers in the past week considering the dropping market and rate was fixed at about $7,000 daily for 4/8 months.
Handy (Far East/Pacific)
A continued glut of available tonnages kept pressuring on rates for all trades. With charterers still focusing more interests on Supramax cargoes from Indonesia, the related Indian Ocean market showed further depression. Rates for coal to India managed to keep levels similar to previous deals while some vessels even managed to achieve slight improvement. For similar sizes on Indonesia/China route, they struggled hard to manage to obtain similar rates as earlier fixtures, with some vessels delivering in North China agreed at extremely low levels, even for vessels to load nickel ore. North Pacific market remained rather quiet and even showed a downward trend. An earlier reported vessel fixed at $7,750 daily plus $300,000 ballast bonus on Aps West Coast redelivery SE Asia was followed by another one agreed at $7,350 daily + $300,000 bb basis on the same delivery and redelivery. Interest for Supramax short period was still there with 3/5 months evaluated at an unchanged level $8,250 daily. Very few activities were seen on smaller Handies with rumours that rates for these sizes have lowered.
Handy (North Europe/Mediterranean)
It was said that more chartering enquiries were available for vessels loading from North and South Europe, but very few fixtures were finally concluded. The single one for a vessel loading out of North Europe showed a small improvement on the voyage freight for carrying scrap to Turkey. Different trend was shown from Black Sea market where rates showed further depression with lower earnings agreed for Supramax on Backhaul to the USG and the ones carrying grains to the Egyptian Med. For Handysize, no interests for Fronthaul trade were heard.
Handy (USA/N.Atlantic/Lakes/S.America)
A slower start of the activity did not prevent rates agreed for business loading out of the USG staying on quite firm levels, both for Supramax and smaller Handy. Handymax-sized scrap to Turkey was covered on timecharter trip basis at $15,500/d, Handysize coals to Morocco was booked at $9,750/d and a 32,000 dwt was fixed for a trip into the BSea at a very nice $11,500/d. Similar size tonnage was rumored to be booked at the mid-$9,000 for a trip to N. Brazil, while the USG chartering action week ending with a good $18,500/d agreed for a 58,000 tonner to perform a trip into Fareast. Hiking commodity prices driven by supplier's strike at river plate froze down a lot of activities from S.America while limited available cargo volume weighed on the freight level out there. No fixture was reported on Supramax as one Handymax and another Handysize were agreed at lower money to respectively load sugar to Morocco and grains to the W
Med.
Handy (Indian Ocean/South Africa)
Chartering for tonnage available in these waters remained very bad for owners as two Supramaxes were fixed again for timecharter trip with iron ore from India. A very large and fancy Supramax fetched a low $6,700/d for loading EC India, while a more standard 57,000 size agreed at only $7,000 for loading WC. On the Iran/China iron ore trade Ukrainian operators preferred to speculate the market and fix a Supramax at $8,500/d basis 2 laden legs/option up to 5 months period, rather than paying the straight rate required for performing the single trip. The sole Supramax fixture reported agreed for loading S. Africa was for a 53,000 tonner carrying minerals to China at only $7,500 plus $200,000 bb.
Banchero Costa and Co Spa
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